AleAnna Inc. (NASDAQ:ANNA) Short Interest Up 341.1% in March

Key Points

• Short interest up 341.1% — Short interest surged to 667,305 shares as of March 31 (a 341.1% increase from March 15), about 1.8% of the stock, with a reported short-interest ratio of 0.0 days due to very high average daily volume.
• Significant insider selling — Major shareholder C. John Wilder sold 82,260 shares on March 6 and insiders have sold 325,784 shares in the past 90 days, though insiders still own 42.90% of the company.
• Mixed institutional and analyst picture — Hedge funds/institutions hold about 38.1% of shares, analysts’ consensus is a “Sell,” and ANNA opened at $4.99 (down 17.9%) with a market cap near $332.6 million and a P/E around 125.

AleAnna Inc. (NASDAQ:ANNA - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 667,305 shares, a growth of 341.1% from the March 15th total of 151,286 shares. Based on an average daily trading volume, of 18,095,186 shares, the short-interest ratio is presently 0.0 days. Approximately 1.8% of the company's stock are short sold.

Insider Buying and Selling at AleAnna

In related news, major shareholder C John Wilder sold 82,260 shares of the company's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $4.17, for a total transaction of $343,024.20. Following the sale, the insider directly owned 30,152,940 shares in the company, valued at approximately $125,737,759.80. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 325,784 shares of company stock worth $1,224,557 in the last 90 days. 42.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AleAnna

Several hedge funds have recently added to or reduced their stakes in ANNA. Keel Point LLC purchased a new position in AleAnna in the second quarter valued at approximately $79,000. Goldman Sachs Group Inc. purchased a new position in AleAnna in the first quarter valued at approximately $94,000. Finally, Carlson Capital L.P. increased its stake in AleAnna by 7.0% in the fourth quarter. Carlson Capital L.P. now owns 92,000 shares of the company's stock valued at $265,000 after purchasing an additional 6,000 shares during the last quarter. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ANNA. Wall Street Zen upgraded shares of AleAnna to a "hold" rating in a research note on Saturday. Weiss Ratings restated a "sell (e+)" rating on shares of AleAnna in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".

AleAnna Stock Down 17.9%

ANNA stock opened at $4.99 on Friday. The company's 50 day moving average price is $4.40 and its 200 day moving average price is $3.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. AleAnna has a fifty-two week low of $2.31 and a fifty-two week high of $18.30. The firm has a market capitalization of $332.58 million, a price-to-earnings ratio of 124.78 and a beta of -1.19.

About AleAnna

AleAnna, Inc engages in oil and gas exploration and production activities. It focuses on Italy's natural gas reserves and developing renewable energy solutions. The company was founded in 2007 and is headquartered in Dallas, TX.

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